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allen simpson and erskine bowles when we come back. kitchen may have crossed this bridge. your new car probably rode these rails. that shipment you just received was tracked by satellite. we build and maintain. we invest and innovate. so we can deliver what america needs. this year alone, freight rail companies plan to spend twenty-three billion of their own money, not taxpayer dollars, to build bridges, maintain track, and develop new technologies to keep freight rail and our economy moving. there's a lot riding on these rails. >>> we're back with more of our press pass coverage with allen simpson and erskine bowles. what is your level of confidence in a second obama term or first romney term that these issues get dealt with in a way that resolves this crisis that we're? >> first of all, i'm frightened that we're going to breach this fiscal cliff and we're going to what i would call really vet the country and take that high risk. that could lead to really horrible economic results. i met with the president and i -- >> take you to the wood shed. took the axe. >> i did take the axe. >>
beaten their heads against our budget problems for year. erskine bowles, former chief of staff to president bill clinton and alan simpson, former senator from wyoming. they are, of course, the co- chairs of the simpson-bowles commission on deficit reduction. erksine bowles let me start with you. here we are at the edge of the fiscalliff, how the heck did we get here? >> because for decades we've made promises in washington we simply can't keep. and to me it's really frightening. i think that we face the most predictable economic crisis in history, fortunately for us it'i also the most avoidable, but the fiscal path we are on is simply not sustainable in these deficits are like a cancer, a cancer that will destroy our country from within. if we don't put some of this mindlessness and senseless partisanship aside and decide we're going to pull together rather than pull apart. >> darren: senator simpson let me ask you, i think people sitting at home hearing that there are all these temporary tax cuts and automatic spending cuts that are about to take effect they think, why do poli
the discussion. later we will also hear from president obama's debt reduction commission co-chairs erskine bowles and alan simpson and former white house budget director alice rivlin. this is about three hours. >> this is the start of congressional hearing that unlike the past when i waited for them i get to start. thank you all very much for coming. my name is john hamre and i'm the president of a -- and very honored we are given a chance to partner with these other very important institutions to bring to the public debate, the debate we should be having. i hate to say it but congress is heading out of town and i don't know if you saw the poll ratings but they have 12% popularity. that is because the for it combination of reasons. they are not doing their job and we need, we need politicians to help us find solutions for america, more now than ever and that is the reason we are offering this to our colleagues, to try to provide a debate we should be having in america. i have said on other occasions, we are facing the most perilous times from a national security standpoint in my memory but the th
ignoring the danger? on labor day, we'll hear from two men working to change our course: erskine bowles and alan simpson, the co-chairs of the commission on deficit reduction. we'll also hear from businesses and workers with jobs on the line. please join us on monday for a special report on jumping the fiscal cliff. >> susie: as we wrap up the week, we turn to author and educator lou heckler. in tonight's lou's been thinking, sleepless nights versus a clear conscious. >> it's pretty hard to see the news these days without encountering yet another story about formerly admired personalities getting caught in some form of wrongdoing. it cuts across all areas, too. sports, entertainment, politics, big institutions, local officials. is it more prevalent or do we just know more than we used to? there was a day when big news media outlets looked the other way if someone in prominence erred a bit, but that doesn't happen now. i am asked fairly often by younger colleagues how i would handle a certain situation they find themselves in a place where they see more shades of gray than black-and-whit
. >> and worked with erskine bowles on that budget project to help me. and gene sperling, the national economics adviser who also worked with me for eight years came in and we worked the last day and a half after doing all this other work. and i was just determined to get the facts right and i, and to simplify the argument. >> right. >> without being simplistic. i didn't want to talk down to people. i wanted to explain what i thought was going on. >> jon: that's what was so stunning, i think, that was why it was such a bracing speech. the phrase you mentioned earlier about getting the facts right. the idea that you would us use... you would use, in your argument, i know this is interesting, that you thought would you utilize in your artifacts. (laughter) >> jon: and they would have... you would attach numbers to them, that were real. i thought was a bold choice on your part. >> well, you know, we were talking before the show started, i think just forget about politics. think about any time in your life you have been confused or angry or frightened or resentful or anything, and you didn't know wh
and press -- erskine bowles and alice simpson were on "meet the press." ersking bowles was asked what is next. here is what he had to say. [video clip] >> i'm frightened that we are going to meet this fiscal cliff and see this debt to country. it could lead to very horrible economic results. i met with the president. >> you took the ax. >> i did. >> we were not looking to do that, but i'm confident talk of the election that he's prepared to negotiate with the republicans and come up with a plan that falls within the framework of what we talked about. >> i believe that, too. host: mr. woodward. guest: i ask the president about this two months ago. he said the proposals by the simpson-bowles commission included in eliminating some of the tax deductions are cutting back on the charitable deductions, health insurance deductions, and the mortgage insurance deduction, the president told me that those would be "wildly unpopular." they would never pass congress. i think he's right. you need some sort of serious tax reform negotiation that would take months, maybe a year, maybe longer. reagan
gregory, erskine bowles was asked about what is next. what we are facing here. here is what he had to say. >> i am frightened we will reach the fiscal cliff embargoing to bet the country. and take the high of a risk. that could lead to horrible economic results. i met with the president. i did not have any political fear. i did not want any jobs out here. that after the election he is prepared to negotiate with the republicans and come up with a plan that falls within the framework of what we've talked about. >> i believe that, too. guest: i asked the president about this two months ago and he said the proposals by the simpson bowles commission included eliminating some of the tax deductions or cutting back on them. the health insurance deduction and the mortgage interest deduction. the president told me those would be wildly unpopular among never pass congress. i think he's right. you need some sort of serious tax reform negotiation that would take months, maybe a year, maybe longer. reagan did it in his presidency in 1986. they were able to lower the rates and are virtually get more mon
names. erskine bowles is a name a lot of people talk about as having a good possibility. he is someone who theoretically can work with republicans. formal wall street guy. co-president of president obama's budget commission. very good ideas widely ignored by the president. he is a guy republicans like. you want to do a major budget deal with republicans, erskine bowles can make that happen. the other guy i hear a lot about is a guy i know very well and consider a friend. very decent man who is the ceo of black rock. larry wants the job. no doubt. he has been at the top. and amazing career on wall street. top trader at first boston early in his career started black rock as a subsidiary of blackstone and spun it out and the biggest money management firm in the world and he is one of the smartest guys and if there's a european financial crisis, just anybody on wall street so he is a good guy and if you worry about wall street imploding he might be a good one. cheryl: we launched the business network and did an interview -- cool cucumber. nothing fazes that guy. this was spraying -- spring
. >> that's the perfect segway. i'm told our friends alan simpson and erskine bowles are more than theoretically, but i'm informed they're on the line now. very brief introduction, i'm going to cut the introduction very short just because of the time. as we've seen, it's going to take a very big and substantial deficit reduction plan to even begin to address our fiscal challenges. we're very fortunate to have the leaders of two groups that were able to meet this challenge in a bipartisan way. they are, of course, alan simpson and erskine bowles who chaired the president's bipartisan fiscal commission and my colleague here, pete do min chi and alice rivlin who cochaired the debt reduction task force. both groups spent nearly a year debating the issues and working out consensus solutions. each issued reports late in the year of 2010. both plans dealt with the deficit challenge in a comprehensive way. they put everything on the table. both of them required compromises between democrats and republicans, but they did it, and we'll hear more about that from them. i'm -- a lot of people a
obama's debt reduction commission cochairs, erskine bowles and alan simpson will join former white house budget director alice rivlin and senate budget, former senate budget committee chairman pete domenici. they are going to discuss various bipartisan plans to cut the debt. this is just beginning. you're watching live coverage here on c-span2. >> we're facing the most perilous time from a national security standpoint in my memory but the threat is not outside the united states. it's inside. it is our inability to get our act together, is in my view the greatest risk we face from a national security standpoint. we want to drill in on this today, and i want to say a special thank you to these remarkable leaders who have decided, talking with chairman gray and he said that he has been spending too much time on the outside avoiding trouble. now he realizes the country needs him to get in the middle of it to make trouble. i'm very grateful he is willing with to do something like that. let me turn it to sam nunn, my chairman. one thing i say when you work for a senator, you work your whole li
the names that are bounced around erskine bowles from north carolina considered a moderate to conservative democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a different dynamic. really going to do that. you want to make a deal with republicans and he is the guy to do it but larry as different depending on how you approach it. the wall street firms are going around. with larry taking the job, and natural successor at black rock. i just -- maybe he does. melissa: such a ma
. but other democrats supported it and alan simpson a republican and erskine bowles a democrat, centrist democrat were there to give him cover, he didn't support it. >> he didn't. so i asked him about that and here's what president obama said: that the closing of deductions for the home mortgage interest deduction for the health care deduction... >> rose: not the primary mortgage, it the second home, isn't it? >> no, no, it could be part of... simpson-bowles was vague. and also the charitable deduction. obama said very plainly he said that would be wildly unpopular and would not pass congress. i think he's right. but i think there is a way... >> rose: so it gets the journey started, doesn't it? >> it could. >> rose: some people are saying we believe in this and it gives us a place to... because boehner has said, you know, that they're... they were playing off of the sifrp simpson-bowles play book. >> yes. in part. particularly on tax reform. and you could get it going and... but they didn't get it going. and, you know, this is not just a story of what... excuse me, what happened last sum
people who disagree with his tax policy unpatriotic, does that meaner mean erskine bowles and unpatriotic, the president owes everyone a apology. i am a supply side economic guy, i disagree with his policy, i am as patriotic as h he is, i am offended, i have a number of obama supporters that are appalled. neil: you are not enthused with what we said. dan, i thought, i guess he is okay with the 47% who don't pay income taxes, some legitimately ly, i know, that is a staggering figure, but that is okay? >> that is, neil, i assume you are directing it to me. neil: yes, i am. >> first of all that is a mischaracterization of what really happens, 47% don't not pay taxes, okay? >> i know we're income taxes, income taxes, all i'm saying okay it is not. >> yes, i know a lot of them, you know what i'm saying, he does not cite the fact that 47% are not paying income taxes. >> not federal income taxes, they don't pay a 1040 tax or file a 1040 form. neil: you think that can get a pass. you think that can get a pass. >> neil, let's get beyond that, let's talk about the patriotism issue, first of all, fo
. >> jon: right. >> and worked with erskine bowles on that budget project to help me. and gene sperling, the national economics adviser who also worked with me for eight years came in and we worked the last day and a half after doing all this other work. and i was just determined to get the facts right and i, and to simplify the argument. >> right. >> without being simplistic. i didn't want to talk down to people. i wanted to explain what i thought was going on. >> jon: that's what was so stunning, i think, that was why it was such a bracing speech. the phrase you mentioned earlier about getting the facts right. the idea that you would us use... you would use, in your argument, i know this is interesting, that you thought would you utilize in your artifacts. (laughter) >> jon: and they would have... you would attach numbers to them, that were real. i thought was a bold choice on your part. >> well, you know, we were talking before the show started, i think just forget about politics. think about any time in your life you have been confused or angry or frightened or resentful or anything
is based on that. >>guest: he put up his own plan. erskine bowles, the democrat on that committee, run by simpson, and he came out and said that paul ryan is one of the best in the business. he is a democrat saying this. a guy we should look up to. >>neil: how will he do in the debate with biden? >>guest: the problem with both these guys, are they street fighters? i don't like the president's economic policies. yes biden is an aider and -- an aider and abettor. sarah palin did well against biden in 2008 and she is a secret fighter but he didn't want to attack a woman, to be honest. >>neil: what i know about biden he got 18,000 votes on primary, and hillary clinton got 18 million votes. >>guest: he is a street fighter. he has been around. >>neil: charlie, good reporting, as always. in the meantime, 40 days out and the president is pulling ahead but who says that spells trouble for governor romney? what if i told you it could be the reverse? i will explain. .. [♪...] >> announcer: with nothing but his computer, an identity thief is able to use your information to open a bank account in
was allen simpson, former republican senator from wyoming and erskine bowles who used to be the chief of staff to president clinton. hence, the name, simpson-bowles. now it put everything, everything on the table and the result was a truly bipartisan plan to reduce america's debt by $4 trillion over ten years through spending cuts and tax reform. now you can see that green line is sort of where our debt is going over the next decades to come. and if the commission's proposals are followed, that is the blue line. that's what would have happened. under the six-step plan, federal workers would have been subject to a three-year pay freeze and the commission would also reduce the oversaul size of the government workforce through attrition. the comprehensive tax plan involved would lower personal income and corporate tax rates while broadening the base of people who pay taxes. capital gains and dividends would be taxed as ordinary income. now back door government spending for certain industries would also be removed. things like the government subsidies for the ethanol industry. a portion o
to happen. i do want to bring taxes down for middle income people. >> erskine bowles said something's got to give, that your plan would not actually reduce the deficit, that indeed taxes would have to go up on the middle class. what gives? if you're not right about your projections? >> first of all, i've got princeton, harvard, "wall street journal" and aei all saying actually that we can bring down the rates and if we limit or eliminate some of the loopholes and deductions at the high end we keep the current progressivity of the code and the same revenue coming in to the government, we get more growth in the economy. my tax policy is designed to find a way to encourage more hiring in this country. i'm very concerned that we have 23 million people who are underemployed or stopped looking for work. everything i warrant to do with regards to taxation follows simple principles -- bring our rates down to encourage growth, keep revenue up by limiting deductions and exemptions and make sure we don't put any bigger burden on middle income people. in fact i want to lower the burden on middle inco
of the fix the debt initiative, which i'm chairing with ed rendell and erskine bowles, we're trying to create resources for members of congress to do. >> what's going on as far as the federal reserve bailing out this economy? did bernanke have any impact? and do you think it's extraordinary that we haven't seen any fiscal fix here, and it's really all been monetary fixes? >> yes, i agree 100%. and i think bernanke made a mistake for doing qe 3 at a lot of levels. it does risk inflation in the out years. it takes the pressure off congress to act. because it basically, by keeping interest rates so low, you're creating an artificial sugar high for the economy and the markets. i think it would have been much more constructive, if he really wanted to read the congress the riot act, to say, i'm not going to bail you out any longer, step up and deal with these issues. >> is he getting political? >> you know, that's a good question. the feds become under really inappropriate pressure from the political side of the aisle in my opinion. the last thing you want is a federal reserve that has to turn to t
of time. a couple of things from your speech last night, erskine bowles and the bowles/simpson commission. you were a member of that. you criticized the president for saying he rejected the recommendations, yet you rejected the recommendations as well. >> and in the next paragraph in my speech, i said, we offered alternatives. so if you don't like this idea, offer your own. that's what we did in the house. what i did was, i took what we thought were the best ideas from bowles/simpson and added other ideas to it is and passed it. president obama did none of that. president obama said, i don't like this plan, and then offered nothing in return. >> well, he did come close with the deal with john boehner. they were negotiating -- >> that wasn't even close to fixing the problem. it was a small or is medium-sized deal -- look, cutting a backroom deal that gives you plausible didn't is not leadership. offering a plan, submitting a budget to congress that fixes the problem, that's leadership. and we haven't seen it for four years from president obama. >> now, the gm plant in janesville, you're ge
Search Results 0 to 49 of about 77 (some duplicates have been removed)